| Investment Readiness - step one |
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| Thursday, 30 October 2008 08:21 |
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Being investment ready is perhaps not as straight forward as it sounds and often the last thing an entrepreneur will be thinking about when looking for investment or funding. Over the next few weeks, along with the usual business plan related blogs I will be introducing various steps to becoming investment ready. I'll start this week with the firt two steps in the process:
1) Describe the background and history of your business. This first step in explaining the investment ready status of your business may seem straight forward bur there may be more to it then meets the eye. Points that you may want to cover here is how your business cam into being. What were the difficulties encountered when starting and how were these overcome? What were the barriers to entry you encountered and how difficult may it be for future incumbents to do the same? Have your growth been erratic or stable and what roles has other industry trends plaid in your success up to now? Investors want to know, not only that your business has a high potential for future growth but also that the business has been able to handle demand and other challenges that show up at your door during the initial stages. 2) Illustrate the Organisation Chart and resumes of your senior management Potentially one of the more straightforward issues to cover, your organisation chart should be illustrating the flow of communication within the business and the effectiveness of this strategy. In addition the resumes of your senior management team needs to illustrate what your company stands for. Where are your strengths? How does the experience in your team contribute to your competitiveness and uniqueness of product. Is there a good balance between skills, experience and cost within the team? Till next time.. |
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